8. LONG-TERM DEBT

Long-term debt consists of the following:


	December 31,
	2019		2018
Loan from American First National Bank. Maturity date is April 10, 2028. The loan, in the original amount of $4,209,608, provided funding for the expansion of the warehouse, additional office space, and a new Controlled Environment. The loan is secured by the Company’s land and buildings. The interest rate is equal to prime rate plus 0.25%. The interest rate was 0.00% at December 31, 2019.	$	2,638,994	$	2,878,980

Note payable to Deutsche Leasing USA, Inc. The interest rate is 4.25%. The original amount of the note was $525,017 with a 36 month maturity ending in November 2019. Beginning December 2016, the loan became payable in equal installments of principal and interest of approximately $15,500. Collateralized by molding machines and ancillary equipment.		—		167,028
		2,638,994		3,046,008

Less: current portion		(260,939)		(406,361)
	$	2,378,055	$	2,639,647

The fair value of long-term liabilities, based on Management’s estimates, approximates their reported values.

The aggregate maturities of long-term debt as of December 31, 2019, are as follows: